Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-03-17
THURSDAY. MARCH IL, 1888
The Governors Message.

granted that every intelligent Virginiar
will read for himself this highly inter
esting and important document. 1t is
short, but not too short for il neglects
no subject which the Governor Nas ex.
pected to touch. In West Virginia the
Legislature is confined when il meets
in extra session to legislation upon such
subjects as are mentioned in the Gov
ernor's proclamation converting the
body, Except that it may elect United
States senstors.) But in Virginia there
is no such limitation upon the power OF
the General Assembly convened in
extra session.
The all-absorbing debt question is
the principal topic discussed in Gov
ernor LEES message. The Governor
repeats The well-known history of the
debt troubles in Virginia. He wisely
sets forth before the whole world the
eqiities of the case, and the reasons
which have compelled Virginia to make
the terms of settlement offered in the
RDpLEBERGEB bill the States ulti-
matum. He not only recites the facts,
but gives the official figures. He shows
clearly that the Commonwealth cannot
pay more than the RIDDLEBEBGER bill
provides for paying, unless she raises
her taxes. That the people will not
consent to have these raised the history
of the funding bills of 1871 and 1879
abundantly testifes.
Governor LEE does not hesitate to
recommend measure of relief. Every
man will desire to read the recon-
remedy has no doubt been well pom
dered by the Governor and fully dis
cussed by him and those whose counsel
he has sought upon the subject. The
judgments against delinquent tax-pay-
ers which the Governor proposes to
have docketed will of course be lien
upon the real estate of the coupon-ten-
derer, and this lien will have to be re-
moved by the payment of the taxes in
money before such real estate SO en-
numbered can find purchaser. This
strikes us as practical measure, and
one that will bear discussion.
We do not fear that the drummers'
decision, so called, will affect the reve-
nues of the State to such an extent as
to prevent her from carrying out in good
faith the offer made to the bondholders
in the RrDDLEBERGER bill. We await
with interest the full opinion of the
Court, fully persuadedthat it must con-
tain some qualifying words which show
that the Supreme Court of the United
States does not deny the right of
State to tax persons from any other
State engaged in selling spurious Ii
quors.
The Governor renews his recon-
mendation for the appointment of
commission whose duty it shall be to
demonstrate to a similar commission
from the bondholders the exact facts
and figures which make up the States
revenues and expenditures, and point
out not only what is "the available
revenue after providing for the consti
tutional appropriations for govern
ment, schools, and other public ex-
penditures," but demonstrate TO them
what revenue remains after the regular
annual Legislative appropriations, and
which are not included in constitution
al appropriations. We are inclined
to favor this recommendation. The
time has now come when it is safe to
appoint such a commission. 1t can do
no harm, and may do good. We did
not favor such commission last winter
but the circumstances are different now.
However, our hopes that the debt ques-
ton will be settled by the proposed
commission are none of the brightest.
The Governors remarks upon this
point, all taken together, show that he
did not intend to make any undue con-
cession but we think the following
language is liable TO misconstruction.
He says:
"The question OF the financial ability |
OF the State would seem then to be the |
sole point of difference between the
Commonwealth and her creditors, or.
in other words, how much canthe State
pay without increasing her taxes?"
II that were the only question, n set
Element would soon be effected, we
think. Before the question of "finan-
cial ability can arise. Virginia is re-
ouired to abandon the RIDDLEBERGER
bill. Read what the bondholders call
q proposition 10 compromise:
"Ihat this meeting deplores the long
contest into which the bOndholders
have been forced for the maintenance
OF their rights, ard whilst asserting its
ttfbfJtof NftJHbdtttDW UUt 10 UccfJJf
the Riddieberger settlement, schich, IN
view Of Me admitted ability Of VGr-
giRia TO settle fcith her creditors, and
the sacrifices they have already made
on her behalf, il considers dishonest and
unjust, hereby expresses its willingness
to meet the State and entertain rea-
sonable compromise based upon the
present taxation and the available reye-
nue. after providing for the constitu-
tioDal appropriation for government.
schools, and other public expendi.
tufes."
The bondholders, it viii be seen, de-
clnre that virginia's ability TO settle
with her creditors is admitted" And
they mean that she is able TO settle
thirty millions Of principal
We have heretofore expressed the
opinion that q new Code ought to be
adopted by tia present Legislature. |
There are mani reasons why this |
should be done. Where il no reason |
Npfih considering WI u should not be ]